ARK Invest buys US$37M of Block shares

• ARK Invest bought 456,059 shares of Block worth about US$37.4 million.
• Block shares fell 1.85% on Monday to close at US$82.02.
• ARK also bought US$3.36 million of Circle Internet Group shares.

ARK Invest bought 456,059 shares of Block worth about US$37.4 million across three ETFs.

The purchases came as Block shares fell 1.85% on Monday, closing at US$82.02.

ARK bought the shares through its Innovation, Next Generation Internet and Blockchain & Fintech Innovation ETFs.

ARK's investment strategy limits individual holdings to 10% of each fund's portfolio to maintain diversification.

Following the purchase disclosure, Block had closed at US$82.02 after falling 1.85% on Monday.

ARK also bought 35,192 shares of Circle Internet Group worth US$3.36 million as Circle rose 9.65% to US$95.55.

ARK previously bought more Block shares after its second-quarter results, while Block had raised its full-year profit forecast to US$12.5 billion.